For its fiscal Q1 (March-May), Emmis Communications reported that net revenue was $86.8 million, compared to $87.3 million for the same quarter of the prior year.
Radio net revenues decreased 1%, while publishing net revenues were up 2%. On a pro forma basis, publishing net revenues were down 5%. Domestic radio net revenues decreased 3% during the quarter, slightly outperforming its markets, which Miller Kaplan reported down 4% for the quarter.
For the first quarter, operating income improved to $12.6 million, compared to $12.1 million for the same quarter of the prior year. Emmis’ station operating income also improved during the first quarter to $23.3 million, compared to $22.5 million for the same quarter of the prior year.
"I’m proud of the results our Emmis team was able to deliver during the first quarter," Emmis Chairman and CEO Jeff Smulyan said. "Five percent growth in operating income during such a challenging period for American media is a testament to the talent and professionalism of our team. I’m particularly thrilled with the performance of some of our newer initiatives, including the 14 percent growth during the quarter in our International revenues, the launch of the Broadcaster Traffic Consortium, and the growing roster of new customers at Emmis Interactive," he added.
RBR/TVBR will have details of Smulyan’s quarterly conference call with Wall Street analysts.
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